Elevra Lithium (SYA) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed shareholders, introduced directors, and outlined the meeting's structure and hybrid format, emphasizing respectful and orderly conduct.

• The agenda included a review of achievements, challenges, future direction, merger with Piedmont Lithium, operational performance, strategy update, and FY25 guidance.

• Voting procedures, proxy details, and the presence of auditors and registry representatives were confirmed.

Financial performance review

• FY24 revenue reached AUD 201 million, with 155,822 dry metric tonnes produced and a cash balance of AUD 104 million at September's end.

• Net cash flow from operations was negative AUD 65 million.

• Record monthly production achieved at NAL; significant resource upgrades at NAL and Moblan.

• Unit operating costs for FY25 guided at A$1,150–A$1,300 per dry metric tonne, with capital expenditure of ~A$20M and exploration expenditure of ~A$30M.

• Optimization projects and cost-reduction initiatives are expected to improve future financial performance.

Board and executive committee updates

• Board strengthened with new independent non-executive directors and formation of key committees, including Audit and Risk, and Nomination and Remuneration.

• Lucas Dow appointed as Managing Director and CEO; Dougal Elder as CFO; Philip Lucas and Laurie Lefcourt as Non-Executive Directors; new company secretary and investor relations function established.

• Remuneration policies updated, with increased transparency and alignment to shareholder expectations.